Important Business News 23rd June, 2020

S.# Description Pg # Source
1. Private sector allowed to import wheat The Economic Coordination Committee (ECC) of the Cabinet has given the go-ahead to the private sector to import wheat to control prices of wheat and flour in the market, and to ensure availability of wheat and wheat flour at a reasonable price across the country throughout the year. 1 Business Recorder
2. Senate body informed  Tax machinery confident about target prospects The Federal Board of Revenue (FBR) Member Inland Revenue Policy, Dr Hamid Ateeq Sarwar, on Monday informed the Senate Standing Committee on Finance that the tax machinery was confident about achieving the revenue collection target of Rs960 billion, set for the first quarter (July-September) of 2020-2021, and likely resumption of economic activity by October would pave the way for meeting annual tax projections. 1 Business Recorder
3. Remdesivir exempted from duty, advance tax The government has exempted customs duty, additional customs duty and advance tax on the import of finished drug Remdesivir 100mg injection and injectable solution 100mg (vial) from June 22, 2020. 1 Business Recorder
4. PM launches Ehsaas Rashan portal, Langar, Panagah apps, Corona website Prime Minister Imran Khan Monday launched commencement of Ehsaas initiatives including Ehsaas Rashaan portal, Ehsaas Langar, Panagah apps and PM Corona Relief Fund website to ensure better coordination among the civil society and the government for the COVID-19 related relief activities. 1 Business Recorder
5. Govt urged to extend tenure of trade bodies Business Community has asked the Prime Minister and Ministry of Commerce for the extension in the current tenure of all trade bodies due to Covid-19 impacts on the economy. 3 Business Recorder
6. Business remains stable on cotton market The local cotton market on Monday remained stable as the exporters of textile sector took interest in the purchase of cotton and Phutti. 8 Business Recorder
7. FPCCI seeks amendments in budget before finance bill’s approval The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has called for amendments in the federal budget before the approval of finance bill in the national assembly. 12 Business Recorder
8. APTMA Punjab Chief Demands Smooth Supply Of Furnace Oil To Textile Industry All Pakistan Textile Mills Association (APTMA) Punjab Chairman Adil Bashir has urged Federal Minister of Energy Omar Ayub Khan to take immediate measures to ensure resumption of supply of furnace oil suspended for the last several weeks.   12 Business Recorder
9. PSX urges rationalization of CGT structure  Pakistan Stock Exchange (PSX) has urged the government to rationalize the Capital Gains Tax (CGT) structure in line with international practice and reduce the rate, which is currently one of the highest in the region. 20 Business Recorder
10. Gold prices hit all-time high Gold prices on Monday struck another all-time high of Rs102,000 per tola, up by Rs1300 on the local market, traders said. 20     Business Recorder
11. Govt mulling reopening of schools under SOPs: minister The government is considering reopening schools under standard operating procedures (SOPs) subject to reports from various stakeholders, Minister for Federal Education Shafgat Mahmood said on Monday. 4 Dawn
12. Trade with Afghanistan restored via Torkham, Ghulam Khan KHYBER/NORTH WAZIRISTAN: Import of Afghan goods and export of Pakistani products through Torkham and Ghulam Khan border crossings were restored on Monday after three months. 8 Dawn
  International News    
13. Virus cases top 9m as WHO says pandemic ‘accelerating’ DUBAI: Global coronavirus infections topped nine million on Monday shortly after the World Health Organization warned that the pandemic was accelerating, even as France took its biggest step yet back to normality by allowing millions of children to return to school. 6 Business Recorder
14. Saudi Arabia says to hold ‘limited’ Hajj Saudi Arabia on Monday announced it would hold a “very limited” Hajj this year owing to the coronavirus pandemic, with pilgrims already in the kingdom allowed to take part. 20       Business Recorder
15. Currency exchange rates   Countries  
U.S. U.K EURO CHINA SAUDIA ARABIA Symbol   $ £ ¥ ﷼, SR Rates   166.70 206.27 186.59 23.67 44. 42
9 Business Recorder

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